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Asymmetric reactions of the US natural gas market and economic activity

Nguyen, Bao H; Okimoto, Tatsuyoshi

Description

This paper provides new empirical evidence on the asymmetric reactions of the US natural gas market and US economy to its market fundamental shocks. We find that results based on a smooth transition vector autoregressive (STVAR) model provides a plausible and robust explanation to the behavior of the US natural gas market, which asymmetrically reacts in bad times and good times. During times of recession, natural gas production shrinks in response to a positive oil price shock, while the...[Show more]

CollectionsANU Research Publications
Date published: 2019
Type: Journal article
URI: http://hdl.handle.net/1885/204379
Source: Energy Economics
DOI: 10.1016/j.eneco.2018.12.015

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